Nano cap Enzon Pharmaceuticals (NASDAQ:ENZN) jumps 23% premarket on increased volume in apparent response to a 13D filing disclosing a 14.9% stake by noted investor Carl Icahn. He has maintained a position in the company since at least July of last year.

The company generates almost all of its revenues from royalties on four marketed products that incorporate its Customized PEGylation Linker Technology: PegIntron, Sylatron, Macugen, CIMZIA.

Andrew Rackear, a consultant to Enzon since Nov. 2013 and before that its general counsel, will replace Hebard as CEO. Meanwhile, finance VP and principal financial officer Richard Feinstein will serve as CFO as of March 31.

Nano cap Enzon Pharmaceuticals (ENZN+17.4%) heads north on more than a 4x surge in volume. No particular news accounts for the action. Star investor Carl Icahn owns a stake, always a point of interest for coat-tailers.

The company generates all of its revenues from royalties on seven marketed products that incorporate its Customized PEGylation Linker Technology: PegIntron, Sylatron, Macugen, CIMZIA, OMONTYS, Oncaspar and Adagen.

NASDAQ notifies Enzon Pharmaceuticals (ENZN) that it no longer meets its listing requirement of a minimum of $1/share. The company has 180 days to regain compliance (December 8, 2014) by having its stock trade at $1/share or higher for 10 consecutive business days during the 180-day period.